Companies in the Healthcare sector have received a lot of coverage today as analysts weigh in on Rexahn Pharma (NYSE MKT:RNN), Spectrum Pharmaceuticals (NASDAQ:SPPI) and Mallinckrodt (NYSE:MNK).
Rexahn Pharma (RNN)
In a report released today, George Zavoico from B.Riley FBR reiterated a Buy rating on Rexahn Pharma, with a price target of $7.50. The company’s shares opened today at $1.60.
Zavoico wrote:
“Rexahn Pharmaceuticals, Inc. (RNN) provided a mid-year update of their clinical programs and expectations of near term milestones in a letter to investors released alongside their 2Q18 financial results on August 7. Rexahn highlighted progress of a Phase IIa trial of RX-3117 in combination with Abraxane as a first-line treatment in metastatic pancreatic cancer that aims to complete enrollment of 25 more patients by 1Q19 such that top-line results could be presented in 4Q19. Rexahn also guided to completing a Phase IIa proof-of-concept trials of RX-3117 as monotherapy for advanced bladder cancer and RX-5902 as a monotherapy for advanced metastatic triple negative breast cancer (mTNBC) in 1Q19.”
According to TipRanks.com, Zavoico is a 4-star analyst with an average return of 7.3% and a 49.3% success rate. Zavoico covers the Healthcare sector, focusing on stocks such as Cellular Biomedicine Group, Catalyst Biosciences Inc, and Actinium Pharmaceuticals.
Rexahn Pharma has an analyst consensus of Moderate Buy, with a price target consensus of $13.50, which is a 743.8% upside from current levels. In a report issued on August 6, H.C. Wainwright also reiterated a Buy rating on the stock with a $19.50 price target.
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Spectrum Pharmaceuticals (SPPI)
In a report issued on August 10, David Buck from B.Riley FBR reiterated a Buy rating on Spectrum Pharmaceuticals, with a price target of $26. The company’s shares opened today at $22.23, close to its 52-week high of $24.20.
Buck commented:
“Spectrum Pharmaceuticals remains $26 per share target and our forecasts are under review following 2Q18 results AMC on August 9th. Results are largely a non-event, rather developments for poziotinib (exon 20 insertion mutation-specific TKI oncology drug) for NSCLC and Rolontis, a long-acting gCSF (white blood cell stimulator), are key since these should be products that drive profitability. Spectrum confirmed that it will have a pre-BLA meeting with FDA for Rolontis and should file its BLA before year-end 2018. For poziotinib, the abstract for the Toronto, CA (September) comes out online September 5th featuring the MD Anderson NSCLC study.”
According to TipRanks.com, Buck is a 4-star analyst with an average return of 13.5% and a 71.3% success rate. Buck covers the Healthcare sector, focusing on stocks such as Corcept Therapeutics Inc, Supernus Pharmaceuticals, and Amag Pharmaceuticals.
Currently, the analyst consensus on Spectrum Pharmaceuticals is a Moderate Buy with an average price target of $30, which is a 35.0% upside from current levels. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $34 price target.
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Mallinckrodt (MNK)
In a report released today, Dewey Steadman from Canaccord Genuity maintained a Hold rating on Mallinckrodt, with a price target of $22. The company’s shares opened today at $31.05.
Steadman observed:
“We think Mallinckrodt will likely use this breathing room to continue to shore up its Acthar franchise through heath economics research, additional phase 4 studies and – over time – incremental improvements to the product profile to keep patients on board. It’s important to note that even with competition from one or more players, we wouldn’t expect the Acthar franchise to disappear and we think Mallinckrodt has ample flexibility in its cost structure to adapt to emerging competition. However, with strong momentum behind MNK shares of late, we remain concerned about internal pipeline setbacks or other external pressures potentially squelching momentum in the story and remain HOLD rated. Eton’s S-1 shows uncertain timing around its synthetic development program.”
According to TipRanks.com, Steadman is a 3-star analyst with an average return of 3.6% and a 40.2% success rate. Steadman covers the Healthcare sector, focusing on stocks such as ANI Pharmaceuticals Inc, Pacira Pharmaceuticals, and Perrigo Company plc.
The word on The Street in general, suggests a Hold analyst consensus rating for Mallinckrodt with a $30.33 average price target, which is a -2.3% downside from current levels. In a report issued on August 8, Raymond James also downgraded the stock to Hold.
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